TaxAct Federal Version 1.04 Updates

For AL 1040

Update:

Modified calculations of Federal wages used on AL Form 40NR when the state code in box 15 of the W-2 is not "AL".

For ME 1040

Update:

Corrected child tax credit calc for non-residents.

TaxAct Federal Version 1.03 Updates

For Preparer 1041 (Released February 14 , 2017)

Update:

Added Final Form Releases

Form Releases:

4255 — Recapture of Investment Credit

For Individual 1041 (Released February 14 , 2017)

Update:

Added Final Form Releases

Form Releases:

4255 — Recapture of Investment Credit

For Partnership–LLC 1065 (Released February 14 , 2017)

Update:

Added Final Form Releases

Form Releases:

4255 — Recapture of Investment Credit

For S Corporation 1120S (Released February 14 , 2017)

Update:

Added Final Form Releases

Form Releases:

4255 — Recapture of Investment Credit

For C Corporation 1120 (Released February 14 , 2017)

Update:

Added Final Form Releases

Form Releases:

4255 — Recapture of Investment Credit

For Individual 1040 (Released February 14 , 2017)

Update:

Added Final Form Releases

Form Releases:

4255 — Recapture of Investment Credit

For Preparer 1040 (Released February 14 , 2017)

Update:

Added Final Form Releases

Form Releases:

4255 — Recapture of Investment Credit

For Preparer 1040 (Released February 14 , 2017)

Update:

Added Final Form Releases

Form Releases:

4255 — Recapture of Investment Credit

For AL 1040 (Released February 14, 2017)

Update:

Added masking of taxpayer and spouse Driver's License information that is printed on page 2 of the Form 40 and Form 40NR.

Adjusted Electronic Filing Alerts for Driver's License numbers to account for an Alabama state issued ID being either 7 or 8 digits.

Turned on the following forms for printing: Form 40NR, Form 2210AL, Schedule OC, Schedule AAC, Schedule AATC, and Schedule NTC.

For CA 1040

Update:

Corrected 540-ES printed tax year

Updated Form 5805 Side 2 Line 11 rate per CA form update

Removed expired Human Trafficking Contribution

For CA 1120

Update:

Updated Form 5806 for state form changes

For CA 1120S

Update:

Updated Form 5806 for state form changes

For LA 1040

Update:

For Federal Form 1040NR filers, removed disqualifaction and users can now e-file their Louisiana returns.

Minor bug fixes

For MA 1040

Update:

Corrected tax year in scan line of Form PV and M-4868.

For ME 1040

Update:

Corrected Print placement on Sch I line 2f.

For NJ 1040

Update:

Minor bug fixes

For OH 1040

Update:

Now allowing Westerville returns with a refund to be e-filed.

Made a change to allow negative numbers on CCA Form 120-16-IR, line 9, column 8.

Added alert for RITA to require same date for direct debit and estimated payments.

TaxAct Federal Version 1.02 Updates

For Preparer 1041 (Released January 30 , 2017)

Update:

Added Final Form Releases

A modification has been made due to an IRS clarification, assets placed in service after 2015 electing not to have any special depreciation apply will not be subject to any AMT adjustment for depreciation.

Form Releases:

3468 — Investment Credit

6765 — Credit for Increasing Research Activities

7004 — Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns

8868 — Application of Extension of Time to File an Exempt Organization Return

8896 — Low Sulfur Diesel Fuel Production Credit

8912 — Credit to Holders of Tax Credit Bonds

8941 — Credit for Small Employer Health Insurance Premiums

For Individual 1041 (Released January 30, 2017)

Update:

Added Final Form Releases

A modification has been made due to an IRS clarification, assets placed in service after 2015 electing not to have any special depreciation apply will not be subject to any AMT adjustment for depreciation.

Form Releases:

3468 — Investment Credit

6765 — Credit for Increasing Research Activities

7004 — Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns

8868 — Application of Extension of Time to File an Exempt Organization Return

8896 — Low Sulfur Diesel Fuel Production Credit

8912 — Credit to Holders of Tax Credit Bonds

8941 — Credit for Small Employer Health Insurance Premiums

For Partnership–LLC 1065 (Released January 30, 2017)

Update:

Added Final Form Releases

A modification has been made due to an IRS clarification, assets placed in service after 2015 electing not to have any special depreciation apply will not be subject to any AMT adjustment for depreciation.

Form Releases:

3468 — Investment Credit

6765 — Credit for Increasing Research Activities

7004 — Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns

For S Corporation 1120S (Released January 30, 2017)

Update:

Added Final Form Releases

A modification has been made due to an IRS clarification, assets placed in service after 2015 electing not to have any special depreciation apply will not be subject to any AMT adjustment for depreciation.

Form Releases:

3468 — Investment Credit

6765 — Credit for Increasing Research Activities

7004 — Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns

For C Corporation 1120 (Released January 30, 2017)

Update:

Added Final Form Releases

A modification has been made due to an IRS clarification, assets placed in service after 2015 electing not to have any special depreciation apply will not be subject to any AMT adjustment for depreciation.

Form Releases:

2220 — Underpayment of Estimated Tax By Corporations

3468 — Investment Credit

6765 — Credit for Increasing Research Activities

7004 — Application for Automatic Extension of Time to File Certain Business Income Tax, Information, and Other Returns

For Individual 1040 (Released January 30, 2017)

Update:

Added Final Form Releases

A modification was made to Form 5405 - Repayment of the First-Time Homebuyer Credit if the home was converted to a rental or business or sold to a related person.

A modification has been made due to an IRS clarification, assets placed in service after 2015 electing not to have any special depreciation apply will not be subject to any AMT adjustment for depreciation.

For Preparer 1040 (Released January 30, 2017)

Update:

Added Final Form Releases

A modification was made to Form 5405 - Repayment of the First-Time Homebuyer Credit if the home was converted to a rental or business or sold to a related person.

A modification has been made due to an IRS clarification, assets placed in service after 2015 electing not to have any special depreciation apply will not be subject to any AMT adjustment for depreciation.

For Tax Exempt Organizations 990 (Released January 30, 2017)

Update:

Added Final Form Releases

A modification has been made due to an IRS clarification, assets placed in service after 2015 electing not to have any special depreciation apply will not be subject to any AMT adjustment for depreciation.

For KY 1040

Update:

For KY 1120

Update:

For KY 1120S

Update:

Removed "Do Not File" water marks from Form 720ES & 41A720SL

For KY 1065

Update:

Removed "Do Not File" water marks from Form 720ES, 41A720SL, & 40A102

For LA 1040 (Released January 17, 2017)

Update:

A modification has been made to Form 540B, Line 14 (Tax Liability after Nonrefundable Priority 1 Credits) to not allow the number to go negative and users may now print Form IT-540 and Schedule R-10611.

For LA 1120

Update:

Approved for e-file

Turned on Print for the following forms: CIFT-620ES, LA 8453C, R-6004 and CIFT-620

For LA 1120S

Update:

Approved for e-file

Turned on Print for the following forms: CIFT-620ES, LA 8453C, R-6004 and CIFT-620

For UT 1065

Update:

For VA 1040 (Released January 17, 2017)

Update:

Modified Professional version to allow e-filing of a zero refund/owe return.

Modified calculation of the Part-Year Resident ratio to account for leap year.

Turned on the following forms for printing: Form 760, Form 760ADJ, Schedule 760CR, Schedule FED, Schedule INC, Schedule OSC, Schedule VAC, Schedule VACS, Form 760PMT, Form 760PY INC, and Form 763-S.

For VA 1120 (Released January 17, 2017)

Update:

Turned on the following forms for printing: Form 500, Schedule 500A, Schedule 500ADJ, Form 500C, Schedule 500CR, Schedule 500FED.

Returns can now be electronically filed.

For VA 1065 (Released January 17, 2017)

Update:

Turned on the following forms for printing: Form 502, Schedule 502A, Schedule 502ADJ, and Schedule VK-1.

Returns can now be electronically filed.

For VA 1120S (Released January 17, 2017)

Update:

Turned on the following forms for printing: Form 502, Schedule 502A, Schedule 502ADJ, and Schedule VK-1.

Returns can now be electronically filed.

For VA 1041

Update:

Updated print on VA Form 770 line 8 to print correctly.

For VT 1040 (Released January 17, 2017)

Update:

Turned on the following forms for printing: Form IN-111, Schedule IN-112, Schedule IN-113, Form IN-114, Form IN-116, Schedule IN-117, Schedule IN-119, Form HS-122, Form PR-141, Schedule HI-144, Form IN-153, and Form IN-155.

For VT 1120

Update:

Turned on electronic filing. All forms can now be electronically filed.

Turned on print for the following forms: BA-403 and CO-422

For VT 1120S

Update:

Turned on electronic filing. All forms can now be electronically filed.

Turned on print for the following forms: BA-403, BI-470, and WH-435.

For VT 1065

Update:

Turned on electronic filing. All forms can now be electronically filed.

Turned on print for the following forms: BA-403, BI-470, and WH-435.

For WI 1040 (Released January 17, 2017)

Update:

Corrected calculation on determining if the user qualifies for Form 1A.

Corrected calculations on Form 1, Form 1A and Form 1NPR for amended returns and over payments applied to next year.